Trammell Crow development deal finalized after years of jostling

‘$30 Land Deal’ project set to break ground Oct. 20

Ryan Dunn rdunn@coloradocommunitymedia.com
Posted 10/6/21

After years of legal wrangling and local opposition, a deal between developer Trammell Crow and the Arvada Urban Renewal Authority to sell nine acres of land at the intersection of 56th Avenue and …

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Trammell Crow development deal finalized after years of jostling

‘$30 Land Deal’ project set to break ground Oct. 20

Posted

After years of legal wrangling and local opposition, a deal between developer Trammell Crow and the Arvada Urban Renewal Authority to sell nine acres of land at the intersection of 56th Avenue and Wadsworth Bypass was finalized on Sept. 24. Trammell Crow will hold a groundbreaking for the Residencies at Olde Town Station development on Oct. 20.

The Olde Town Station development is slated to include a six-story building with 252 apartment units and a parking garage, a 128-room hotel and approximately 15,000 square feet of retail space.

The project is known for its association with the `$30 Land Deal,’ a reference to the price that Trammell Crow paid AURA for the property, which was valued at $6 million by the Jefferson County Assessor in 2020.

Arvada City Council voted down the project’s preliminary development plan in Jan. 2018 over parking issues and concerns about the project’s compatibility with Olde Town. By Feb. 2018, Trammell Crow had informed council that it was working on a revised version of the plan.

The revised development plan was presented in March 2018 and approved on a 6-1 vote.

Citizen action group Arvada for All the People took issue with council’s decision, and opted to sue the city for allegedly violating open meeting laws and violating part of the land development code which reads “if the city council denies an application, that same request or one substantially the same may not be heard by the city council for a period of one year from the date of denial, unless the city council explicitly states that an earlier reapplication will be considered.”

The code states that the one-year waiting period does not apply if a developer submits a revised application that addresses all concerns that caused council to originally vote no. However, Arvada for All the People argued in court that the revised pan did not address all concerns.

The Jefferson County District Court ruled against Arvada for All the People in March 2019, but the Colorado Court of Appeals reversed a portion of this judgment on May 14, 2020 — ruling that the city council did not violate open meeting laws but did misinterpret the city’s own code when it chose to rehear the plan.

AURA Executive Director Maureen Phair said she was excited to break ground on the project and estimated it would be completed by the end of 2023.

“We’ve been working with Trammell Crow for six years to get this development done and it took a good team of a committed developer and the city and Urban Renewal to make it happen,” said Phair. “And I’m very excited to be at the groundbreaking on Oct. 20 and again at the ribbon cutting in 2023.”

Longtime Arvada resident Harriett Hall, who served on the steering committee of Arvada for All the People, said the long lull between news about the project had given her hope that the project had fallen through.

“I was hopeful that perhaps economically Trammell Crow had decided it didn’t make sense,” said Hall. “And the fact that’s not the kind of housing that Arvada needs — I’m disappointed.

Hall likened Trammell Crow’s planned development to Park Place Olde Town, a similar development near the historic district. She said both projects interfere with the sense of history and character of Olde Town.

“People hate it,” said Hall. “No one hates the people that live there, but it’s an eyesore. I was not at all pleased with (the city’s) behavior around this.”

Phair called Trammell Crow a “First-rate developer” and added that the company would be investing $130 million into the project. She added that she felt the mixed-use development was the best use of the property.

“This is a true mixed-use project that’s at the best transit-oriented development (TOD) site location in the metro area other than Denver’s Union Station because its adjacent to Olde Town, right at the transit stop and along Wadsworth Bypass,” said Phair.

Trammell Crow Senior Managing Director Bill Mosher issued the following statement to the Arvada Press:

“High Street Residential, the residential subsidiary of Trammell Crow Company, is thankful for the opportunity to develop The Residences at Olde Town Station. We recognize this location is unique, as it is within walking distance to Olde Town, the Transit Hub, and minutes to I-70 via Wadsworth Bypass. High Street and our partners are excited to be part of the Olde Town Arvada community.”

The Oct. 20 groundbreaking will be held at the development site located at the intersection of 56th Avenue and Wadsworth Bypass.

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